_________::::___#450 - July 24, 2007________________
FRAUDBARON.com
The Anti-Fraud Professionals'
Source for Fraud News
#450 Updated: 7/24/07 9:30 a.m.

Now, banks accuse Pearlman
In addition to a scheme the state says took more than $300-million from individual
investors, federal prosecutors say the more than $100-million he borrowed from
banks was a Ponzi scheme of its own, dating at least to 2001.  Full article, sptimes.
com

Beazer says gets notice of formal SEC investigation
Earlier this year, Atlanta-based Beazer disclosed it was the subject of several
lawsuits as well an informal SEC investigation and a U.S. Attorney's investigation
into practices related to its mortgage-origination business.  Full article, reuters.com

CFO May Have Done Better with a CPA
The former CFO of SmartForce — now chief legal counsel at a Silicon Valley
powerhouse Google — settles with the SEC. An accounting degree might have
served him better, says his attorney.  Full article, CFO.com

Embezzlement results in 21-month sentence for Westmoreland woman
A Westmoreland County woman convicted of embezzling more than $187,000
from the bank where she worked was sentenced in federal court in Pittsburgh to
21 months in prison. Full story, pittsburghlive.com

Ex-City Clerk Sentenced for Embezzlement
A former western Kentucky city clerk has been sentenced to four years in prison
for embezzling over $900,000 from the city's coffers.   Full story, forbes.com

Deloitte: 10 Things About Financial Statement Fraud
Despite increasingly stringent legislation aimed at combating fraud, financial
statement fraud remains a public concern, finds a new study.  Full article,
smartpros.com

Take-Two Execs Plead Guilty
Patti P. Tay, the company's former chief accounting officer, admitted she made
false entries in a spreadsheet tracking the grants, according to Bloomberg News.
The company's former general counsel, Kenneth I. Selterman, also admitted he
wrote false information in a letter sent to regulators about the options probe.   
Full article, webcpa.com